The typical owner-occupied home in Palenville is worth about $238,500, 44% below the New York median of $423,800 and 28% below the national median of $332,700. Owners pay a median $4,341 a year in property taxes, about 1.82% of their home's value, higher than the New York rate of 1.55%. 73% of occupied homes here are lived in by their owners, and 42% of those owners still have a mortgage.
Palenville at a glance
| Palenville | New York | U.S. | |
|---|---|---|---|
| Median home value | $238,500 | $423,800 | $332,700 |
| Median property tax paid per year | $4,341 | $6,582 | $3,119 |
| Property tax as a share of value | 1.82% | 1.55% | 0.94% |
| Median household income | – | $85,974 | $80,734 |
| Homes lived in by their owners | 73% | 54% | 65% |
| Owner homes with a mortgage | 42% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $2,041 | $2,555 | $1,963 |
| Those costs as a share of the owners' income | 35.0% | 22.5% | 21.0% |
| Median rent | $1,008 | $1,621 | $1,413 |
| Rent as a share of renters' income | 11.0% | 31.2% | 30.6% |
| Median year homes were built | 1944 | 1959 | 1980 |
| Vacant homes | 18.8% | 10.0% | 10.1% |
| Population | 870 | 19,852,366 | 334,922,499 |
What a typical home costs per month in Palenville
At this week's average 30-year rate of 7.11%, buying the median Palenville home of $238,500 with 20% down costs about $1,745 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,142, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $74,769 for the 20%-down payment.
The median rent here is $1,008 a month, so owning the median home costs about $737 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $47,700 |
|---|---|
| Loan amount | $190,800 |
| Principal and interest | $1,284 |
| Property taxes (1.82% a year) | $362 |
| Homeowners insurance (our estimate, 0.5% a year) | $99 |
| PMI | $0 |
| Total per month | $1,745 |
Change the numbers in the calculator
| Down payment | $8,348 |
|---|---|
| Loan amount | $234,180 |
| Principal and interest | $1,575 |
| Property taxes (1.82% a year) | $362 |
| Homeowners insurance (our estimate, 0.5% a year) | $99 |
| FHA mortgage insurance | $105 |
| Total per month | $2,142 |
Change the numbers in the calculator
Questions about home buying in Palenville
What is the median home value in Palenville?
About $238,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Palenville?
Homeowners pay a median $4,341 a year, which is about 1.82% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Palenville?
For the median home with 20% down at 7.11%, the payment is about $1,745 a month. Keeping that under 28% of gross income takes about $74,769 a year.
More about Palenville
- Mortgage Refinance in Palenville
- Debt Relief in Palenville
- Home Equity Loans in Palenville
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data